Neil Cybart: Is Bloomberg moving Apple up and down to sell subscriptions?

"In such a dynamic, accuracy may not be a priority."

From Cybart's "Another Questionable Bloomberg Report on iPhone Demand, What’s Going On With Bloomberg?" ($) posted Wednesday on Above Avalon:

It’s shocking how similar this Bloomberg report is to one that the publication pushed out 10 months ago. Both articles had Debby Wu and Takashi Mochizuki in the byline. In each case, Bloomberg pushed the claim that iPhone demand was faltering, and then tried its best to support the claim with random numbers and estimates...

One item that has been difficult to miss is Bloomberg making sure to point out in its articles how they are apparently responsible for a company’s stock price change. Stories from Mark Gurman are notorious for including such language. Here’s an example from a random Apple-related article in July:

“Apple shares fell 2.1% to $147.07 after Bloomberg reported on the [hiring] slowdown, marking the biggest one-day decline in almost three weeks.”

It’s not that other publications ignore price stock changes. However, the way Bloomberg tries to imply that they are single-handedly impacting stock prices rubs me the wrong way. The following language was included in Bloomberg’s slowing iPhone demand story from yesterday as if to say “we did that”:

Is Bloomberg editorial striving to impact stock prices so that they can say they are all about breaking market-moving news? It’s not hard to see how Bloomberg may use that as a way of selling subscriptions to its pricey market data service. In such a dynamic, accuracy may not be a priority.

My take: There. Someone has said it.

5 Comments

  1. Romeo A Esparrago Jr said:
    If Bloomberg always claims credit, is that enough to cry market manipulation warranting investigation?

    4
    September 29, 2022
  2. David Emery said:
    Market manipulation for profit? I’m shocked!

    5
    September 29, 2022
  3. Cy said:
    Wasn’t it already discussed here that Bloomberg incentivizes its writers to move tickers? If so, makes sense writers brag about and document such impacts in their articles.

    2
    September 29, 2022
  4. Gregg Thurman said:
    Bloomberg would like to think it’s that important, when the reality if that the damage done to Nord Stream pipelines is most likely responsible and has been labeled sabotage.

    Russia is the one seen to have the most to gain from such a disruption.

    IMO, the Russia Duma should been trucked off the a labor camp in Siberia for an extended stay. I thought Zuch was bad until Putin showed how bad he could be. Russia is an outlaw Country.

    5
    September 29, 2022
  5. Kirk DeBernardi said:
    “My take: There. Someone has said it.”

    …and one of the very few skilled and qualified enough to correctly and unabashedly point it out.

    Bloomberg…shame on you. With journalists like you, who needs enemies?

    0
    September 30, 2022

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